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STEP 1: Get Market Price

STEP 1: Get Market Price

To create an order, you need to get a price/fee quote first:
  • The SDK will give you easy access to the API, which returns the Market Price and the Fee for any given trade you intent to do.
  • The returned Market Price is not strictly needed, you can use your own pricing logic.
    • You can choose a price that is below this Market price (Market Order), or above Market Price (Limit Order).
  • The Fee however is very important.
    • It is the required amount in sell token the trader agrees on paying for executing the order onchain.
    • Normally, its value is proportional to the current Gas Price of the network.
    • This fee is never charged if you don't trade.
To get the quote, you simply specify the trade you intent to do:
const quoteResponse = await cowSdk.cowApi.getQuote({
kind: OrderKind.SELL, // Sell order (could also be BUY)
sellToken: '0xc778417e063141139fce010982780140aa0cd5ab', // WETH
buyToken: '0x4dbcdf9b62e891a7cec5a2568c3f4faf9e8abe2b', // USDC
amount: '1000000000000000000', // 1 WETH
userAddress: '0x1811be0994930fe9480eaede25165608b093ad7a', // Trader
validTo: 2524608000,
})
const { sellToken, buyToken, validTo, buyAmount, sellAmount, receiver, feeAmount } = quoteResponse.quote
Now that we know the Market Price and a Fee, let's review in next section how to define and sign the new order.